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In this post, we guide you through four different sectors that a panel provider runs a industry surveys on
An industry survey is a survey that is conducted to know what’s happening in each industry or sector. Typically, these surveys can be run for any industry all over the world. These surveys cover a wide range of topics from products to consumer experiences. An industry survey can be run by financial services companies or research institutions that publish reports. For instance, the European Banking Authority (EBA) regularly publishes finance industry surveys to gather inputs from market participants. You can find a list of current fintech industry surveys in their FinTech Knowledge Hub. If you are looking for a general overview of all industries, check out Euromonitor Passport. They provide data and resources about customers and businesses worldwide, in all sectors. In the next section, we’ll explore other users of industry surveys: panel providers.
Other than research institutions, financial services firms such as Deloitte, EY, and KPMG also run industry surveys. Their outlooks help investors to forecast trends in the relevant sectors and markets. Additionally, panel providers such as GrapeData help clients such as PE firms, educational institutions, and many more to run an industry survey. They help source high-quality respondents for an industry survey through cutting-edge technology. Let’s look at the four different sectors that panel providers run a survey on.
We explore four different industry surveys: FMCG, Telecommunications, Industrials/Logistics, and Real Estate.
The FMCG sector is a rapidly growing sector as products have quick turnaround times and sell in high volumes. Generally, nondurable products such as household items are sold in the FMCG sector. Some examples of these items include food and beverages, toiletries, and cosmetics. Since this sector is evolving and new players arrive in the market frequently, there’s a need for an industry survey. There could be many reasons to run an industry survey in the FMCG sector. Below, we explore some of these reasons:
If you’d like to learn more about this industry survey, you can visit our blog where you can find this case study.
While surveys in the FMCG sector tend to largely be B2C, the industrial sector comprises B2B surveys. The industrial sector includes categories such as transport, logistics, and automotive facilities. Research institutions and consulting companies often want to survey decision-makers in the industrial sector. These companies and institutions want to know customer pain points and product experience in order to then publish industry data.
The industrial sector has a broad scope and can cover many industries within it. Some examples include procurement, manufacturing, and construction. A potential challenge in the industrial sector is that the target audience is niche. Professionals in the industrial sector are B2B customers, who are harder to find. Additionally, these customers belong to niche sectors and locations. For example, consider an employee for a construction company that uses a piece of installation equipment. If a company wants to know what pain point these employees face, they will have a niche audience to survey. Here, panel providers come into play to custom-recruit respondents for the project.
The real estate industry also uses surveys to monitor the landscape. For instance, Euromoney conducts an annual global real estate survey. The purpose of this survey is to know the opinions of thought leaders and leading firms in the industry. Similarly, panel providers also conduct surveys for consulting companies and investment firms. A real estate industry survey helps to understand what potential opportunities can arise in the market. It can also uncover potential threats to the industry.
Additionally, professionals in the real estate industry can also be surveyed to discover sentiment. For example, GrapeData recently partnered with a leading firm so that real estate managers would choose the right software. In the last year, the UK housing market faced uncertainty, post which managers needed a strategy. A leading firm approached us to find out which software would best help to reduce this uncertainty. We were able to connect them with experts who helped them make this decision. Through our industry experts, they were able to increase their profit margins. Also, they got actionable insights to plan for future investments.
If you are a company looking to run a survey from a panel provider, we have some tips for you below:
The right set of survey respondents is crucial for an industry survey. They can determine whether your survey project will give the right data or not. Picking survey respondents from a static list almost never works. This is because each industry survey is unique with different results. Hence, we recommend choosing a provider that customises the process of finding respondents. For instance, GrapeData targets respondents using the latest technology. Using AI and geolocation, we ensure to recruit the best quality respondents for your industry survey. If you want to know how we do this, check out our contributors' page where we have information on survey respondents.
Survey programming and scripting are also crucial for an industry survey. It is a method to ensure that only relevant people are picked for the industry survey. Programming refers to translating survey requirements into questions so that meaningful insights can be derived from them. If conducted properly, survey programming has many benefits to it. These include properly formulating the questions and checking the survey logic.
Scripting has similar benefits to programming a survey. It refers to the process of asking the right questions so that accurate data can be collected. Also, it allows for reliable and accurate collection of data. Hence, you should look out for a panel provider who does survey programming and scripting.
An established panel provider is able to provide a track record of their past work. If you are a company that wants to conduct an industry survey, you can look out for past case studies. The panel provider should be able to explain to you how their business works. In addition to this, they should create a shared understanding of your project goals. At GrapeData, we make it a point to understand goals and develop a strategic approach for your project. If you need any help with your survey project, reach out to email@example.com. We would be more than happy to help!